Chile: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Chile

In 2022, the Chilean metal castor mounting market decreased by -35% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate moderate growth. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Metal Castor Mounting Exports

Exports from Chile

In 2022, overseas shipments of castors with mountings of base metal increased by 26% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 40%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, metal castor mounting exports surged to $X in 2022. In general, exports continue to indicate a modest increase. The growth pace was the most rapid in 2021 with an increase of 76%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Argentina (X tons) was the main destination for metal castor mounting exports from Chile, accounting for a 44% share of total exports. Moreover, metal castor mounting exports to Argentina exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Bolivia (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+3.2% per year) and Bolivia (+12.8% per year).

In value terms, Argentina ($X) emerged as the key foreign market for castors with mountings of base metal exports from Chile, comprising 48% of total exports. The second position in the ranking was held by Mexico ($X), with a 17% share of total exports. It was followed by Bolivia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina totaled +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.1% per year) and Bolivia (-9.6% per year).

Export Prices by Country

The average metal castor mounting export price stood at $X per ton in 2022, approximately equating the previous year. In general, the export price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 45%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+4.0%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Castor Mounting Imports

Imports into Chile

In 2022, purchases abroad of castors with mountings of base metal decreased by -33.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of 111%. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, metal castor mounting imports dropped markedly to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 81% against the previous year. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of metal castor mounting to Chile, accounting for a 93% share of total imports. It was followed by Spain (X tons), with a 1.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+14.3% per year) and Taiwan (Chinese) (-4.6% per year).

In value terms, China ($X) constituted the largest supplier of castors with mountings of base metal to Chile, comprising 74% of total imports. The second position in the ranking was taken by Spain ($X), with a 7.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+15.0% per year) and Taiwan (Chinese) (+0.9% per year).

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, rising by 6.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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